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Extending Correction Lower.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Extending Correction Lower
Wednesday's corrective setback is extending further and the breach of the
initial 116.65 support has taken the steam out of the recovery, but has not
damaged the recent bullish structure beyond repair, just yet. The 111.25 level
now takes on the responsibility of the next key support level. Renewed gains
back above the 111.86 level restores the bullish picture allowing a re-test of
the 112.15 high. Medium term, a break above here allows the uptrend to be
extended towards the 113.17 July highs. However, below 111.25 the bullish
picture is challenged.

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